Energy News

PATTERSON-UTI ENERGY, INC. (PTEN) today reported financial results for the three and nine months ended September 30, 2014.  Including the non-cash charge discussed below, the Company reported net income of $16.0 million, or $0.11 per share, for the third quarter of 2014, compared to net income of $74.4 million, or $0.51 per share, for the quarter ended September 30, 2013.

Clayton Williams Energy, Inc. (the “Company”) (NYSE:CWEI) today reported its financial results for the third quarter 2014. Quarter Highlights Oil and Gas Production of 15,586 BOE/d, up 13% (21% PF for Asset Sales) Adjusted Net Income1 (non-GAAP) of $17.4 million, in line with consensus estimates EBITDA2 (non-GAAP) of $78.1 million, up 14% Lifting Costs Averaged $14.19 per BOE, down 11%

EQT Midstream Partners, LP (EQM), an EQT Corporation (EQT) company, today announced third quarter 2014 financial and operating results. Net income for the quarter totaled $56.5 million and adjusted EBITDA was $71.4 million. Distributable cash flow was $61.8 million for the quarter. Adjusted operating income was $62.3 million, or 16% higher than the same quarter last year. The non-GAAP financial

Occidental Petroleum Corporation (OXY) announced core income for the third quarter of 2014 of $1.2 billion ($1.58 per diluted share), compared with $1.6 billion ($1.97 per diluted share) for the third quarter of 2013. Reported income was $1.2 billion ($1.55 per diluted share) for the third quarter of 2014, compared with $1.6 billion ($1.96 per diluted share) for the third

EQT Corporation (NYSE: EQT) today announced third quarter 2014 net income attributable to EQT of $98.6 million, or $0.65 per diluted share (EPS), 12% higher than the third quarter 2013 earnings of $88.3 million, or $0.58 per diluted share. EQT’s reported results were negatively impacted by a $19.4 million increase in net income attributable to noncontrolling interests totaling $33.7 million in

Diamond Offshore Drilling, Inc. (NYSE: DO) today reported third quarter 2014 net income of $53 million, or $0.38 per share, compared to net income of $95 million, or $0.68 per share, in the third quarter of 2013.  Revenues in the third quarter of 2014 were $738 million, compared to revenues of $706 million in the third quarter of 2013. The

Weatherford International plc (WFT) reported net income before charges of $248 million ($0.32 diluted earnings per share on a non-GAAP basis) on revenues of $3.88 billion for the third quarter of 2014. Third Quarter 2014 Highlights Completed the sale of the Russian and Venezuelan land rig operations; Completed the sale of the Pipeline and Specialty Services business; Reduced net debt

SandRidge Energy, Inc. (SD) today announced that it has increased the borrowing base and extended the maturity of its senior credit facility. The new, five-year agreement with 27 lending institutions has a maximum facility size of $2 billion and an initial borrowing base of $1.2 billion. Due to its current liquidity position and hedging program, the company elected to initially

In the third quarter of 2014, Core Laboratories N.V. (NYSE: “CLB US” and Euronext Amsterdam: “CLB NA”) posted the most profitable quarter in Company history. The record results were driven primarily by new, or recently introduced, technology and related services by Core’s Reservoir Description and Production Enhancement operations, in addition to Reservoir Management operations’ most profitable third quarter ever. The

Shell today announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir. Leopard-1 is located around 145 kilometres off the Gabonese coast, west of Gamba. It was drilled in water 2,110 metres deep to a total vertical depth of 5,063 metres. Shell

California Resources Corporation, a subsidiary of Occidental Petroleum Corporation (OXY), announced net income of $188 million for the third quarter of 2014, compared with $235 million for the third quarter of 2013. Net income for the first nine months of 2014 was unchanged from the same period of 2013 at $657 million. In announcing the results, Todd Stevens, President and

The Board of Directors met today and paid homage to Chairman and CEO Christophe de Margerie, who died tragically in an airplane accident in Moscow on the night of October 20-21, 2014. After joining the Group in 1974, Christophe de Margerie was appointed to the Executive Committee in 1999, then named CEO of Total on February 14, 2007, and Chairman